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Jan 26, 2013
01/13
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jack lew was also the architect of this sequester mechanism. a lot of people are worried if that kicks in, the automatic spending cuts, that, you know, that would really be a bad thing for the economy. some democrats are surprisingly saying maybe that's a good way to handle this whole budget cuts. where do you think jack lew stands on that? and, unfortunately, we just have half a minute left. what do you think? >> well, i think jack recognizes that if the sequester kicks in, it does two things. one, it makes deficit savings a lot more pronounced. that's $85 billion in one year. but, two thurts an economic recovery that's already too fragile. we certainly don't want to see that $85 billion extracted from the economy in 2013 all at once. >> susie: all right, jared, thanks a lot for your analysis, really appreciate it. thanks for coming on the program. jared bernstein for the center on budget and policy priorities. >> my pleasure. next week on n.b.r., we'll find out what the federal reserve policymakers are thinking. ben bernanke and the open mark
jack lew was also the architect of this sequester mechanism. a lot of people are worried if that kicks in, the automatic spending cuts, that, you know, that would really be a bad thing for the economy. some democrats are surprisingly saying maybe that's a good way to handle this whole budget cuts. where do you think jack lew stands on that? and, unfortunately, we just have half a minute left. what do you think? >> well, i think jack recognizes that if the sequester kicks in, it does two...
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Jan 9, 2013
01/13
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but jack lew is opposite of that. he thinks he las the set of skills he needs among candidates to replace jack lew as chous chief of staff. one source tells me set leading candidate. we will see if that announcement is made tomorrow as is jack lew for treasury. >> if jack lew is secretary treasury, it'll look something like this, whatever that is. accidentally, tim geithner had a different signature but changed it for the green back. ma maybe jack lew will do the same. >> the power the new treasury hassle have the power to shape. but is this is real risk? fresh off a multiyear run at tcw, first off, congratulations of being a self-employed business man. >> thank you, very much. >> now all of the bills fall to you. >> yes. >> but it is always ladies first. >> glad to hear it. first off, jack lew, no doubt his commitment to dc. my problem is his commitment to dc. he only served out of d.c. one year in the hedge fund department. is he the right man for the job? >> listen, i think you raise an important point. i think wha
but jack lew is opposite of that. he thinks he las the set of skills he needs among candidates to replace jack lew as chous chief of staff. one source tells me set leading candidate. we will see if that announcement is made tomorrow as is jack lew for treasury. >> if jack lew is secretary treasury, it'll look something like this, whatever that is. accidentally, tim geithner had a different signature but changed it for the green back. ma maybe jack lew will do the same. >> the power...
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Jan 26, 2013
01/13
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man like jack lew. what do you think? >> i think it is. i think one of the key aspects of the second-term agenda regarding the economy and fiscal policy is to achieve a stable debt situation by the time the administration is heading out of town. and interestingly based on some spending cuts and tax increases that have been implemented so far, we're pretty close. and jack lew intimately knows what it takes to get from here to there. now, i think you, also, to, about other issues of the treasury's beat, international currency, financial markets implementing the dodd-frank issue. as i mentioned, financial reform is still incomplete. so jack lew is going to have to oversee those as well. >> susie: let me get back to the budget issue. jack lew was also the architect of this sequester mechanism. a lot of people are worried if that kicks in, the automatic spending cuts, that, you know, that would really be a bad thing for the economy. some democrats are surprisingly saying maybe that's a good way to handle this whole budget cuts. where do you thi
man like jack lew. what do you think? >> i think it is. i think one of the key aspects of the second-term agenda regarding the economy and fiscal policy is to achieve a stable debt situation by the time the administration is heading out of town. and interestingly based on some spending cuts and tax increases that have been implemented so far, we're pretty close. and jack lew intimately knows what it takes to get from here to there. now, i think you, also, to, about other issues of the...
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Jan 10, 2013
01/13
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jack lew gets the nod for new treasury secretary. senator jeff sessions is outraged and vowing to block lew's senate confirmation. he will join us to explain why. >>> why this flu epidemic is making our economy sick. experts say we're looking at a possible $10 billion hit on the economy from the flu. that is what we need. details are coming up. >>> how much is an oscar really worth to a movie? the 2013 academy award nominees are out. studios dropped 10 of millions of dollars on their oscar campaigns. a top industry expert is here to crunch the numbers. even when they say it's not, it is always about money. melissa: we start today with another school shooting. it happened at taft union high school in california. one student was shot. the sheriff says they have one suspect in custody. makes the meetings on gun control today, on capitol hill even more urgent. the fact that vice president joe biden met with the nra and other gun rights activists on possible new federal regulation. at the same time attorney general eric holder was talking
jack lew gets the nod for new treasury secretary. senator jeff sessions is outraged and vowing to block lew's senate confirmation. he will join us to explain why. >>> why this flu epidemic is making our economy sick. experts say we're looking at a possible $10 billion hit on the economy from the flu. that is what we need. details are coming up. >>> how much is an oscar really worth to a movie? the 2013 academy award nominees are out. studios dropped 10 of millions of dollars...
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Jan 10, 2013
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i feel like i know jack lew better now even though i have never met the man. thank you for coming on. appreciate your time. >> thank you very much. gerri: all right. when we come back, a look at the new year through the eyes of the average investor and the wealthy people spoil their kids? results of the survey after the break. ♪ gerri: the top 2 percent of americans are getting a lot of slack from the far left. what is really going on behind the nation's wealthiest? a new survey might surprise you. joining me with the results, senior vice president and managing director for pnc wealth management. welcome to the show. tell us a little bit about your survey. >> the survey was really a survey of affluent individuals, 560 responded across the spectrum of geography and age, and it included individuals who had a million dollars of investable assets, excluding retirement plans, many had much more than that. gerri: people who are legitimately millionaires. now, the majority of the nation's wealthy said they were not rich growing up, which surprises me. tell us more
i feel like i know jack lew better now even though i have never met the man. thank you for coming on. appreciate your time. >> thank you very much. gerri: all right. when we come back, a look at the new year through the eyes of the average investor and the wealthy people spoil their kids? results of the survey after the break. ♪ gerri: the top 2 percent of americans are getting a lot of slack from the far left. what is really going on behind the nation's wealthiest? a new survey might...
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jack lew is not that man. the original messages that we're now getting from a number of republican senators who will have to consider this nomination, many are saying that they will go through the vetting process. see what jack lew has to say from confirmation hearings as the information comes out. they want a plan to address spending. many are skeptical they're getting it from the treasury nominee or from the administration. back to you. tracy: rich edson, thanks for all that. ashley: jack lew then must face the senate before he takes the helm at treasury department. with the top republican on budget committee already speaking out against lew are we in for a bumpy confirmation process on capitol hill? joining us bob cusack, managing editor of "the hill." it could be interesting, bob. we mentioned senator jeff sessions, top ranking republican on the senate budget committee and he said, quote, in a statement that is now at, out, jack lew must never be treasury secretary. he has critics but do you think he will
jack lew is not that man. the original messages that we're now getting from a number of republican senators who will have to consider this nomination, many are saying that they will go through the vetting process. see what jack lew has to say from confirmation hearings as the information comes out. they want a plan to address spending. many are skeptical they're getting it from the treasury nominee or from the administration. back to you. tracy: rich edson, thanks for all that. ashley: jack lew...
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Jan 11, 2013
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if you look at jack lew's career, it's easy to say he's a creature of government. worked in the obama administration, worked for tip o'neill back in the day. but when you look at his experience before he came to the government with the obama white house, he was at citi and got $1 million salary and $1 million bonus. this irks not only conservatives who think obama's being hypocritical to nominate someone this kind of banking background after wagging his finger at the wealthy all year. but almost frustrates and infuriates the left because they would like to see someone more progressive in the treasury role. >> more progressive. but what about this? he was the chief operating officer of a proprietary trading operation of about $54 billion. now, that has been outlawed under dodd/frank. so once again, i see hypocrisy from team obama. >> you've already seen some senators on capitol hill such as chuck grassley of iowa raise questions about what jack lew did at citi. and there's been a huffington post investigation about how lew's unit within the company was tied to hedge
if you look at jack lew's career, it's easy to say he's a creature of government. worked in the obama administration, worked for tip o'neill back in the day. but when you look at his experience before he came to the government with the obama white house, he was at citi and got $1 million salary and $1 million bonus. this irks not only conservatives who think obama's being hypocritical to nominate someone this kind of banking background after wagging his finger at the wealthy all year. but...
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Jan 10, 2013
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but does jack lew have what it takes? we'll talk about it, after this. ♪ [ male announcer ] how do you turn an entrepreneur's dream... ♪ into a scooter that talks to the cloud? ♪ or turn 30-million artifacts... ♪ into a high-tech masterpiece? ♪ whatever your business challenge, dell has the technology and services to help you solve it. nothing. are you stealing our daughter's school supplies and taking them to work? no, i was just looking for my stapler and my... this thing. i save money by using fedex ground and buy my own supplies. that's a great idea. i'm going to go... we got clients in today. [ male announcer ] save on ground shipping at fedex office. >>> aig has decide not to joiven a lawsuit by former ceo hank greenberg against the u.s. government. greenberg claims the company's 2008 bailout was unfair to shareholders. aig says it won't let greenberg's firm pursue its claims on the company's behalf. the ceo told cnbc joining the suit isn't in aig's best interest. and while the terms of the lawsuit may hav
but does jack lew have what it takes? we'll talk about it, after this. ♪ [ male announcer ] how do you turn an entrepreneur's dream... ♪ into a scooter that talks to the cloud? ♪ or turn 30-million artifacts... ♪ into a high-tech masterpiece? ♪ whatever your business challenge, dell has the technology and services to help you solve it. nothing. are you stealing our daughter's school supplies and taking them to work? no, i was just looking for my stapler and my... this thing. i save...
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Jan 10, 2013
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well, for heaven sakes, jack lew was on wall street for a year. he ran the alternative investments at citibank and he got $1 million bonus to that and $1 million cash compensation on top of that. i don't begrudge him that. i'm a free market guy. but his boss begrudges people who made money and lew did that in one year. if you live by the sword, you die by the sword. >> well, again, he is in sync with his boss, president obama, and i think obama's willing to overlook those transgressions as long as you see the world the way he does. and in terms of governor dean, i almost think i'm re-hearing herbert hoover about the need to fight the deficit by raising taxes. raising taxes -- >> and cutting spending. >> raising taxes is not the way to go. and you look at europe, they're raising taxes, japan is raising taxes and the result is a disaster. as you know, if we had normal growth economy, say 4%, which shouldn't be hard to do after what we've been through, you'd get an extra $400 billion, $500 billion right off the bat, instant, painless. >> howard, what
well, for heaven sakes, jack lew was on wall street for a year. he ran the alternative investments at citibank and he got $1 million bonus to that and $1 million cash compensation on top of that. i don't begrudge him that. i'm a free market guy. but his boss begrudges people who made money and lew did that in one year. if you live by the sword, you die by the sword. >> well, again, he is in sync with his boss, president obama, and i think obama's willing to overlook those transgressions...
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Jan 10, 2013
01/13
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jack lew, does he change things? obviously, we know he's in favor of big government, big spending, probably face a big fight for his confirmation. jack, do you think that changes anything for your markets outlook? >> it doesn't for me. i think the biggest change we're going to see right away is just new signatures on our currency. beyond that, you know, the treasury has at least under geithner in the second term here has really sort of backed away from center stage giving, handing the baton mostly to the fed. you know, whether lew takes a more activist role, he certainly is an obama loyalist, remains to be seen. i will say, you know, there's probably a little more contention in washington surrounding jack lew than there is, perhaps, on wall street right now. ashley: all right, jack. let me bring you in -- david, i'm sorry. jack, you had, we've heard from you. let's bring in david on where investors can make money in this market. what do can you like spa why? -- and why? >> sure. well, i'll make a comment on commoditi
jack lew, does he change things? obviously, we know he's in favor of big government, big spending, probably face a big fight for his confirmation. jack, do you think that changes anything for your markets outlook? >> it doesn't for me. i think the biggest change we're going to see right away is just new signatures on our currency. beyond that, you know, the treasury has at least under geithner in the second term here has really sort of backed away from center stage giving, handing the...
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Jan 10, 2013
01/13
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look like jack lew was originally left-handed. charles: i was going to write someone a note a week ago and forgot how to write in cursive. it has been that long. but jack lew never knew. stuart: more serious regarding spending and your dollar. the government's very alan bean calendar, the congressional budget office have numbers that show many more cuts could be made. look at this list. cut funding for non-defense agencies by 1%. that is a cut, how much would that saved? $932 billion over ten years. next, cut the growth in funding for the defense department. just don't cut it, cut the growth. the cbo said that would save $862 billion. how about raising the earliest eligibility age for social security? that would save another $144 billion. just those cuts we have mentioned and that is a small fraction of them, $2 trillion would be saved. you could get $4.6 trillion worth of savings if the cbos proposals were put in place. mike reagan joins us now. what i just described, government bean counters's bonet ideas. know where are they cu
look like jack lew was originally left-handed. charles: i was going to write someone a note a week ago and forgot how to write in cursive. it has been that long. but jack lew never knew. stuart: more serious regarding spending and your dollar. the government's very alan bean calendar, the congressional budget office have numbers that show many more cuts could be made. look at this list. cut funding for non-defense agencies by 1%. that is a cut, how much would that saved? $932 billion over ten...
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Jan 9, 2013
01/13
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tell us about jack lew. >> jack lew is the chief of staff known as a tough negotiator, someone who the president has complete trust in. in fact, when he was announced as the white house chief of staff the president talked about the trust that he had in him, talked about how he had taken a part in helping to right the ailing economy. this is also someone who has worked in a couple of administrations as the budget chief in this administration and the clinton administration and helped to cut the 1997 balanced budget deal. so the white house sees him as someone with a lot of experience, ready to take on some of the big challenges over the treasury department as we are facing the so-called mini cliffs, the big one, the debt ceiling, something he will have to deal with right away. >> when is the formal announcement of the nomination expected and another partisan fight down the road? >> very well could be. we have been trying to nail it down. all we have from sources is that it will happen sometime this week mptd not certain if that is tomorrow or friday or over the weekend but it will happen
tell us about jack lew. >> jack lew is the chief of staff known as a tough negotiator, someone who the president has complete trust in. in fact, when he was announced as the white house chief of staff the president talked about the trust that he had in him, talked about how he had taken a part in helping to right the ailing economy. this is also someone who has worked in a couple of administrations as the budget chief in this administration and the clinton administration and helped to cut...
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Jan 13, 2013
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jack lew was an integral part of it. he believes in a balanced budget, he's fiscally prudent, he should be confirmed. i like him, i think he's the last guy. lori: matt, i'll give you the last word. >> you've got to be kidding me. a wall street guy? [laughter] >> he's a good man. >> he can't balance the budget. >> yes, he can. >> he's just going to spend. i'm sorry, doug, i don't want to disparage -- lori: all right, it's just getting interesting. sorry, we're out of time. thanks so much. and thank you for joining me. i'm lori rothman sitting in for lou dobbs tonight. catch me each day on you heard about the consumer electronics show? the device that will kill you. what do you do when hit with bad publicity? there are specialist to deal with bad news. what about the big oil spill? can they help during a disaster? what does the business do when the ceo gets set? what about when a candidate loses? how much bad news is fake? what do we want? when do one.? is bad news good news? >> "the business of bad news." tonight. john: w
jack lew was an integral part of it. he believes in a balanced budget, he's fiscally prudent, he should be confirmed. i like him, i think he's the last guy. lori: matt, i'll give you the last word. >> you've got to be kidding me. a wall street guy? [laughter] >> he's a good man. >> he can't balance the budget. >> yes, he can. >> he's just going to spend. i'm sorry, doug, i don't want to disparage -- lori: all right, it's just getting interesting. sorry, we're out...
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Jan 13, 2013
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. >> obama having some fun with his new pick for treasury secretary, jack lew. let's talk go that and the serious issues he'll deal with on the roundtable joined by begg from the wall. >> caller: al hunt from the bloomberg view, david walker, and paul krugman of "the new york times" and princeton. i'm going to take a stab at trying to explain this trillion dollar platinum coin issued right at the beginning so we can then debate it. it's rooted in 1997 law. you see the law right there that gave the president the ability to -- the mint the ability to do commemorative platinum coins. what they didn't do is set a limit on how much it could be worth so the idea was you get a coin like this, a mock-up right there. deposit it in the federal reserve. say it's worth a trillion dollars and would extend the debt limit for about a year and the government would be able to go on. the white house earlier in the week did not close the door on this and bubbled up through the blogosphere, but, paul krugman, you got everybody's attention on friday when you wrote in "the new york t
. >> obama having some fun with his new pick for treasury secretary, jack lew. let's talk go that and the serious issues he'll deal with on the roundtable joined by begg from the wall. >> caller: al hunt from the bloomberg view, david walker, and paul krugman of "the new york times" and princeton. i'm going to take a stab at trying to explain this trillion dollar platinum coin issued right at the beginning so we can then debate it. it's rooted in 1997 law. you see the law...
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Jan 24, 2013
01/13
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jack lew on capitol hill today. from the slopes of davos, some of the biggest names in business today talking to our very own liz claman. just a crushing day for apple. the stock is getting hammered. concerns about growth that apple down by 10%. dagen: the dow getting close to its all-time high. nicole: it sure is. the s&p is back about 600. as you noted, the dow that 13,871. take a look. right now, at this moment, we are at session highs. they have failed to meet that analysts estimates. that outlook is worries some. research in motion. we had talk about that with lenovo. microsoft has arrows. apple is struggling. forget about 600, $700. all the analysts jump on board and cut their price targets. netflix is soaring today. keeping an eye on washington. back to you. dagen: thank you. connell: a couple of things today. some changes at the sdc. dagen: first prosecutor ever. also, jack lew on deck as the next treasury secretary. what does jason riley think the both of these? great to see you. jack lew is probably the mo
jack lew on capitol hill today. from the slopes of davos, some of the biggest names in business today talking to our very own liz claman. just a crushing day for apple. the stock is getting hammered. concerns about growth that apple down by 10%. dagen: the dow getting close to its all-time high. nicole: it sure is. the s&p is back about 600. as you noted, the dow that 13,871. take a look. right now, at this moment, we are at session highs. they have failed to meet that analysts estimates....
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Jan 10, 2013
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perhaps the best clues for that are in an op-ed from two years ago from jack lew. inis entitled "the easy cuts are behind us." the piece absolutely advocates getting out of our debt and getting the debt and deficit under control. but it does so by discussing some cuts in defense and then examples of scaling back things like something called the great lakes restoration initiative. not eliminating it, just cutting it by maybe a quarter of its present cost. a sav
perhaps the best clues for that are in an op-ed from two years ago from jack lew. inis entitled "the easy cuts are behind us." the piece absolutely advocates getting out of our debt and getting the debt and deficit under control. but it does so by discussing some cuts in defense and then examples of scaling back things like something called the great lakes restoration initiative. not eliminating it, just cutting it by maybe a quarter of its present cost. a sav
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jack lew officially nominated as treasury chief. lew is known for his role in the being acrimonious talks in 2011. what could it mean this time. >> tiffany disappoints again with weaker holiday sales. there was weakness in the americas, strength in asia. so how much of a read through to the rest of retail is this earnings report? >>> nokia shares soaring this morning after a bullish outlook for the first quarter. >>> and herbal life's big day to defend itself against bill ackman's damning allegations. we'll have the latest and the ceo join us later in the show. >>> well, today president obama is set to nominate white house chief of staff jack lew as his next treasury secretary. succeeding tim geithner. lew has been budget director in both the obama and clinton administrations. he will pray a major role of course in negotiations over the debt ceiling and potential spending cuts. the president will make his announcement at 1:30 eastern. it's an event in the east room at the white house. i have to say off the bat just because he's a fo
jack lew officially nominated as treasury chief. lew is known for his role in the being acrimonious talks in 2011. what could it mean this time. >> tiffany disappoints again with weaker holiday sales. there was weakness in the americas, strength in asia. so how much of a read through to the rest of retail is this earnings report? >>> nokia shares soaring this morning after a bullish outlook for the first quarter. >>> and herbal life's big day to defend itself against...
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Jan 10, 2013
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i don't think jack lew brings that to the table. whether or not the other attributes he has make up for that we'll have to wait and see. >> i was going to ask you if you didn't end your report with that, i was going to ask you to say what you just said, what you said to me off camera -- and i'll tell you, when you said it, i'll tell you what struck me. sometimes i think you're implying that if the administration needs to sell something to maybe the private sector, it helps to say, you know, geithner's for it. or it helps to say paulson was for it. it helps to say robert reuben is for this. and in this case they won't necessarily be able to make that. but they don't -- see where i disagree with you, i don't think they care that they don't sell it. they don't need to sell it. >> i don't care if they care. they should care. it does matter. we are entering really interesting times when it comes to a need to rethink our corporate tax system, rethink our individual tax system. rethink entitlements. all of these things. it would have been,
i don't think jack lew brings that to the table. whether or not the other attributes he has make up for that we'll have to wait and see. >> i was going to ask you if you didn't end your report with that, i was going to ask you to say what you just said, what you said to me off camera -- and i'll tell you, when you said it, i'll tell you what struck me. sometimes i think you're implying that if the administration needs to sell something to maybe the private sector, it helps to say, you...
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Jan 12, 2013
01/13
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jack lew was an integral part of it. he believes in a balanced budget, he's fiscally prudent, he should be confirmed. i like him, i think he's the last guy. lori: matt, i'll give you the last word. >> you've got to be kidding me. a wall street guy? [laughter] >> he's a good man. >> he can't balance the budget. >> yes, he can. >> he's just going to spend. i'm sorry, doug, i don't want to disparage -- lori: all right, it's just getting interesting. sorry, we're out of time. thanks so much. and thank you for joining me. i'm lori rothman sitting in for lou dobbs tonight. catch me each day on ♪ gerri: hello, everybody. i'm gerri willis. our video games -- are video games to blame for gun violence in this country? vice-president continuing his week-on meetings at the white house seeking ways to reduce gun violence in this country following last month's massacre in newtown, conn. today it was the video-game industry's turn. in those talks were publishers of some of the most violent games out there including electronic arts, a
jack lew was an integral part of it. he believes in a balanced budget, he's fiscally prudent, he should be confirmed. i like him, i think he's the last guy. lori: matt, i'll give you the last word. >> you've got to be kidding me. a wall street guy? [laughter] >> he's a good man. >> he can't balance the budget. >> yes, he can. >> he's just going to spend. i'm sorry, doug, i don't want to disparage -- lori: all right, it's just getting interesting. sorry, we're out...
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Jan 25, 2013
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we have his report card and whether jack lew can do better. may be the end of the union as membership plunges to a 97-year low. there could be one thing to save the union. we have the former chief here to explain, and there's swatting and mansion swatting. a brazillian man just moved himself into a 7500 square foot palace in florida, and legal loopholes could let him keep it for good. you won't believe the story. even when they say it's not, it's always about "money." ♪ we start by saying good-bye to tim geithner and his reign as treasury secretary, hanging up his hat after four years on the job, people questioning what side he was on, a wall street crony, a washington insider. did he do right by the banks or the american people? what do we have to look forward to with his successor, jack lew? money power panel is here to see if he made the grades. penny, a member of the fix the debt committee and a former minnesota congressman. susan worked under geithner at the treasury department, now a senior fellow with the aspen institute, and steven h
we have his report card and whether jack lew can do better. may be the end of the union as membership plunges to a 97-year low. there could be one thing to save the union. we have the former chief here to explain, and there's swatting and mansion swatting. a brazillian man just moved himself into a 7500 square foot palace in florida, and legal loopholes could let him keep it for good. you won't believe the story. even when they say it's not, it's always about "money." ♪ we start by...
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. >> jack lew and the rest of the team. you know those guys? >> i know jack lew. jack lew is always very gracious with white house chiefs of staff, even in days when there was some discomfort between the business side, and the street, i would always -- i would call up, and have great conversations and make the rounds. >> the administration's changed its approach to business and to wall street, or no? >> they reached out. i mean, i have to -- they've done it. >> but are they listing or reaching out to placate? >> i'll let you know after i watch -- after i observe what they do. i think they're -- look, who knows -- at the point at which everybody's pounding and saying, you know, you have to engage with business, i think it's a little bit harsh when they do engage with business to turn around and say, ah-ha, they're engaging with business. they don't really mean it. let's see. i appreciate the fact that they're engaging. by the way, they're engaging a lot. follow-up phone calls, conferences, they respond to questions. if they call you up after you made the question a
. >> jack lew and the rest of the team. you know those guys? >> i know jack lew. jack lew is always very gracious with white house chiefs of staff, even in days when there was some discomfort between the business side, and the street, i would always -- i would call up, and have great conversations and make the rounds. >> the administration's changed its approach to business and to wall street, or no? >> they reached out. i mean, i have to -- they've done it. >> but...
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of course jack lew served the president. of course he's in the inner circle. that was his job. he was chief of staff. but this is now the gop's default reaction. opposed to everything the president does, no matter what it is. joining me now is joan walsh, editor at large of salon.com and former pennsylvania governor ed rendell now an nbc news analyst. thank you both for being here tonight. >> thank you, reverend al. >> governor, is this the best the gop's got? just don't do whatever? is the strategy going to succeed? >> first of all, it's pathetic. the american people understand traditionally, a president gets to the point he thinks the people will best serve him in the country. the only way they should be confirmed is if there's something in their background that's criminal. something in their background that's irresponsible. but jaek lew has been a good public servant. you may disagree with the economic theories that he brings to the job, but the annals to the republicans complaints is win the next presidential election. it doesn't say that the executive branch should be shar
of course jack lew served the president. of course he's in the inner circle. that was his job. he was chief of staff. but this is now the gop's default reaction. opposed to everything the president does, no matter what it is. joining me now is joan walsh, editor at large of salon.com and former pennsylvania governor ed rendell now an nbc news analyst. thank you both for being here tonight. >> thank you, reverend al. >> governor, is this the best the gop's got? just don't do...
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in terms of whether jacks lew changes anything, you're right the president makes the policy. now, sometimes you can have a treasury secretary that can have an influence like if you have a robert ruben kind of person who had a heavy influence on bill clinton and got him to see how important reducing the deficit was. but obama seems to choose people who are just going to execute, not actually make policy. stuart: okay. dream on kirsten, dream on. i've got to break in for a second. news just in from the news conference for the f.a.a. secretary ray lahood has been holding. >> we believe this is a safe aircraft, talking about the 787 dreamliner, of course referring to the boeing dreamliner, saying look, it's safe. this is what the f.a.a. is saying at the news conference, announcing the review of the dreamliner and that's the conference held right now. boeing stock is down a buck and a half on that. now this: snow in jerusalem, lowest temperature there in decades. lowest temperature in china in three decades. however, the u.s. saw its warmest year on record last year and we've got
in terms of whether jacks lew changes anything, you're right the president makes the policy. now, sometimes you can have a treasury secretary that can have an influence like if you have a robert ruben kind of person who had a heavy influence on bill clinton and got him to see how important reducing the deficit was. but obama seems to choose people who are just going to execute, not actually make policy. stuart: okay. dream on kirsten, dream on. i've got to break in for a second. news just in...
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we talked about jack lew. i can not. we have to go for this. take a look at the signature that will be on the new dollar bill, new treasury secretary's signature. do we have it? ashley: there it is. look at that. >> you know. ashley: oh, boy. >> she just said it all. the other thing i was going to say, alexander hamilton has to be rolling in his grave with that signature. ashley: look at that. lori: loop de loop. >> ever seen my hand writing? better than that what. ashley: charlie gasparino, as always thanks so much, charlie. high taxes are forcing high-tech company to hoard billions of dollars overseas, investments that could be used here in the u.s. liz macdonald is digging into the numbers and joins us ahead. lori: damage gets galore -- gadgets galore at the consumer electronics show in las vegas. liz is on it. >> shibani and i are going at. these are the first small electric vehicle motorized skates. they are wireless. 700 bucks. she is doing great. not going 10 miles-an-hour but not bad. gadget wars coming up. ashley: top electronic compan
we talked about jack lew. i can not. we have to go for this. take a look at the signature that will be on the new dollar bill, new treasury secretary's signature. do we have it? ashley: there it is. look at that. >> you know. ashley: oh, boy. >> she just said it all. the other thing i was going to say, alexander hamilton has to be rolling in his grave with that signature. ashley: look at that. lori: loop de loop. >> ever seen my hand writing? better than that what. ashley:...
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asking gerri if a divided congress approves this man as treasury secretary, jack lew. as we break, going to the winners on s&p. coach, you know the bags, tiffany, you might know the diamonds. we'll be right back. ♪ [ woman ] if you have the audacity to believe your financial advisor should focus on your long-term goals, not their short-term agenda. [ male announcer ] join the nearly 7 million investors who think like you do. face time and think time make a difference. at edward jones, it's how we make sense of investing. you know it can be hard to lbreathe, and how that feels.e, make a difference. copd includes chronic bronchitis and emphysema. spiriva helps control my copd symptoms by keeping my airways open for 24 hours. plus, it reduces copd flare-ups. spiriva is the only once-daily inhaled copd maintenance treatment that does both. spiriva handihaler tiotropium bromide inhalation powder does not replace fast-acting inhalers for sudden symptoms. tell your doctor if you have kidney problems, glaucoma, trouble urinating, or an enlarged prostate. these may worsen wit
asking gerri if a divided congress approves this man as treasury secretary, jack lew. as we break, going to the winners on s&p. coach, you know the bags, tiffany, you might know the diamonds. we'll be right back. ♪ [ woman ] if you have the audacity to believe your financial advisor should focus on your long-term goals, not their short-term agenda. [ male announcer ] join the nearly 7 million investors who think like you do. face time and think time make a difference. at edward jones,...
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jack lew is himself a washington insider. he's well known to congress and he's there to shepherd the process along. he's not got the wall street experience that a lot of people on the street might be hoping for. but he really knows how to move the process forward. >> is that exposed to weakness? being an insider on the political front, but obviously having no external wall street experience, how much weakness is that, do you think? >> i think there are limits to what anybody can do does she. >> it's a round about, isn't it? >> but jack lew has one big advantage and that is that he's coming into office with the u.s. economy expanding. >> which is good news. tina, thanks for joining us. just to remeepd you what is on today's agenda in the united states, wells fargo is the first of the u.s. banks to report earnings this season.thely during that hour, best buy is going to be in focus, as well. we wanted to look at the governance reform. >>> still to come, all the latest on the italian elections when we come back in a few moments.
jack lew is himself a washington insider. he's well known to congress and he's there to shepherd the process along. he's not got the wall street experience that a lot of people on the street might be hoping for. but he really knows how to move the process forward. >> is that exposed to weakness? being an insider on the political front, but obviously having no external wall street experience, how much weakness is that, do you think? >> i think there are limits to what anybody can do...
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that is, of course, not assuming if jack lew is confirmed. geithner is probably gone either way but he will stay on a couple more weeks for the president. so tim geithner will stay on until january 25th. >> the taxing amount of time it will take us to do our taxes this year. it is today's thing that makes you go hhmmm. >> and has gold lost its shine? or is now a golden opportunity to buy? stick around. [ male announcer s joe woods' first day of work. and his new boss told him two things -- cook what you love, and save your money. joe doesn't know it yet, but he'll work his way up from busser to waiter to chef before opening a restaurant specializing in fish and game from the great northwest. he'll start investing early, he'll find some good people to help guide him, and he'll set money aside from his first day of work to his last, which isn't rocket science. it's just common sense. from td ameritrade. ♪ [ male announcer ] some day, your life will flash before your eyes. make it worth watching. introducing the 2013 lexus ls. an entirely new
that is, of course, not assuming if jack lew is confirmed. geithner is probably gone either way but he will stay on a couple more weeks for the president. so tim geithner will stay on until january 25th. >> the taxing amount of time it will take us to do our taxes this year. it is today's thing that makes you go hhmmm. >> and has gold lost its shine? or is now a golden opportunity to buy? stick around. [ male announcer s joe woods' first day of work. and his new boss told him two...
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i think jack lew is going to be the same. what was interesting is the geithner treasury has not been especially public treasury, but the idea with jack lew, it will be even less public than that. >> good point. lew not a friend of the camera, as even the president suggested in that presser yesterday. >> exactly. >> thanks a lot, steve lies plan. >> planes, trains and automobiles, dow transports rising, hitting the third consecutive interday high. big names like goldman getting more bullish on the sector. is a run-up almost over? we're talking tranies a little later on. robert frank is coming to the post for the million-dollar minute. >> melissa, i've got the hottest new toy for billionaires. and why this toy made some big news this week. that's coming up on "squawk on [ male announcer ] how do you trade? with scottrader streaming quotes, any way you want. fully customize it for your trading process -- from thought to trade, on every screen. and all in real time. which makes it just like having your own trading floor, right at
i think jack lew is going to be the same. what was interesting is the geithner treasury has not been especially public treasury, but the idea with jack lew, it will be even less public than that. >> good point. lew not a friend of the camera, as even the president suggested in that presser yesterday. >> exactly. >> thanks a lot, steve lies plan. >> planes, trains and automobiles, dow transports rising, hitting the third consecutive interday high. big names like goldman...
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jack lew makes sense at treasury. it made sense to replace peter orszag, gene spurling and then austin goolsby with allen krueger. you have to wonder, can it really be the case that this white house, after four very difficult years in which people are very tired, in which they're very burnt out, in which they've been worn down by endless battles with the republicans, and in which the sort of natural dynamics of group thinking in a tightly knit administration have taken over, can it really be the case if they can benefit from bringing in new people with new voices and new experiences and a fresh perspective? a lot of people i talk to, some of them former members of the administration, think at this point that it is a big problem, that at this point the president needs to get out of his comfort zone in some of these appointments particularly on the economics side and bring in folks with a new perspective. yet that's balanced by the fact that they don't think jack lew is a bad guy or going to be a bad treasury secretary,
jack lew makes sense at treasury. it made sense to replace peter orszag, gene spurling and then austin goolsby with allen krueger. you have to wonder, can it really be the case that this white house, after four very difficult years in which people are very tired, in which they're very burnt out, in which they've been worn down by endless battles with the republicans, and in which the sort of natural dynamics of group thinking in a tightly knit administration have taken over, can it really be...
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dennis: president obama replacing jack lew who is becoming secretary--treasury secretary. cheryl: tiexiera of wall street, rich edson joins us from inside the beltway. >> president obama announcing his new chief of staff, the deputy national security advisers advised obama on foreign policy for a decade as president and senator, taking over for jack lew was the pick to be the treasury department, one of ten promotions the president is announcing this year including security legislative and communications positions. the president nominated mary jo white to charity securities and exchange commission. the federal prosecutor in man hadn't turned private sector defender, nominated richard coeur great to be the consumer protection bureau. he is already there after the president circumvented objection last year with a recess appointments, news on those recess appointments, labor relations board recess appointments which have now been invalidated. republicans say that puts cor cordr cordray's appointment in question. dennis: industry and lenore of virus accounting for 50% of flu c
dennis: president obama replacing jack lew who is becoming secretary--treasury secretary. cheryl: tiexiera of wall street, rich edson joins us from inside the beltway. >> president obama announcing his new chief of staff, the deputy national security advisers advised obama on foreign policy for a decade as president and senator, taking over for jack lew was the pick to be the treasury department, one of ten promotions the president is announcing this year including security legislative...
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jack lew remains at the top of the list. and over at the cia, of the list. and the cia, that vacancy, john brennan, the counterterrorism adviser, and michael morrel, on the short list. so the president has key positions to fill. and could be doing it this week. >> while i'm focused on you, i can't help but notice the stunning background. >> reporter: it is beautiful. >> all right, following the president. >>> two teens take a chance on a frozen lake and are lucky to escape with their lives, thanks to a nearby tree. people are always asking me how we make these geico adverts. so we're taking you behind the scenes. this coffee cup, for example, is computer animated. it's not real. geico's customer satisfaction is quite real though. this computer-animated coffee tastes dreadful. geico. 15 minutes could save you 15 % or more on car insurance. someone get me a latte will ya, please? [ male announcer ] how do you make 70,000 trades a second... ♪ reach one customer at a time? ♪ or help doctors turn billions of bytes of shared information... ♪ into a fifth ann
jack lew remains at the top of the list. and over at the cia, of the list. and the cia, that vacancy, john brennan, the counterterrorism adviser, and michael morrel, on the short list. so the president has key positions to fill. and could be doing it this week. >> while i'm focused on you, i can't help but notice the stunning background. >> reporter: it is beautiful. >> all right, following the president. >>> two teens take a chance on a frozen lake and are lucky to...
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>> let me say, comparing jack lew and ben bernanke is a little tough because bernanke has demonstrated through --. lori: they have to work together. >> i understand, but i mean, i'm talking about in terms of their contribution to the recovery from the financial crisis of 2007, 8, pick your number at the end of that. i think bernanke is going to down in history as one of the finest fed chairman. i think it is really an open question whether he would want to continue. he may. or certainly whether the president would reappoint him. but the fact is, he has done a heck of a job by any measure. lori: how the president characterizes bernanke that the fed is creative considering all the action they have done. if he does leave at the end of the term they will go with dovish janet yellen person or more hawkish, richard fisher type? >> the answer to that obviously. i hope we have someone as intelligent and capable in that job as ben bernanke as we have had over the course of his term at the fed. he has been remarkable in my opinion. lori: switch topic as little bit. everybody is buzzing about the
>> let me say, comparing jack lew and ben bernanke is a little tough because bernanke has demonstrated through --. lori: they have to work together. >> i understand, but i mean, i'm talking about in terms of their contribution to the recovery from the financial crisis of 2007, 8, pick your number at the end of that. i think bernanke is going to down in history as one of the finest fed chairman. i think it is really an open question whether he would want to continue. he may. or...
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>> let's do jack lew in a citi payout. >> president obama has nominated jack lew to replace tim get near, and criticism's already begun to resurface over lew's work at citigroup. according to his financial statement, he received $944,000. alex, did we mess up on the comma? was that $94,000? >> no, the decimal's in the right place. >> the decimal's in the right place, okay. so he received $944,518 from citigroup in 208. citi received, of course, a $45 billion federal bailout that same year. and, you know, i would be so nervous endorsing that check from a bailout company, my squiggles would be a straight line there. right there. he put that on the back of some check and got a cool million dollars. >> mm-hmm. >> the president described his move from chief of staff to treasury as bittersweet but insisted the loss will be the nation's gain. >> over the years, he's built a reputation as a master of policy who can work with members of both parties and forge principled compromises. jack has my complete trust. i know i'm not alone in that. in the words of one former senator, having lew on your te
>> let's do jack lew in a citi payout. >> president obama has nominated jack lew to replace tim get near, and criticism's already begun to resurface over lew's work at citigroup. according to his financial statement, he received $944,000. alex, did we mess up on the comma? was that $94,000? >> no, the decimal's in the right place. >> the decimal's in the right place, okay. so he received $944,518 from citigroup in 208. citi received, of course, a $45 billion federal...
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we'll talk to you about if you're feelings of jack lew in a moment. on the deal that we did. you see everybody's taken the zeros off of what we owe and everybody's seen that now. i guess we're making $23,000 a year, we're spending $38,000. so we're adding $16,000 to our credit card bill every year. and we already owe $160,000 on our credit card bill. and the fiscal cliff deal cut $38 off of our expenses or something when you take everything off. is that -- >> actually worse than that. >> how can it be worse? >> actually our cliff bill was an absolute embarrassment to the united states of america. let me clarify. if we had gone over the cliff, it would have been an "f." and a total failure of our system. but when you analyze the bill, it was an "f" on spending. we actually increased spending. we didn't reduce 13e7bding. we increased spending. >> all the democrats tell me that there was already a trillion dollars of spending cuts that -- i didn't -- >> that was from august 2011. okay, but what i'm saying is, if you just look at this bill in isolation, it increased spending. it
we'll talk to you about if you're feelings of jack lew in a moment. on the deal that we did. you see everybody's taken the zeros off of what we owe and everybody's seen that now. i guess we're making $23,000 a year, we're spending $38,000. so we're adding $16,000 to our credit card bill every year. and we already owe $160,000 on our credit card bill. and the fiscal cliff deal cut $38 off of our expenses or something when you take everything off. is that -- >> actually worse than that....
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and jack lew to be secretary of the treasury. key positions in the government that the president will certainly want to see the senate act on right away. >> well thank you very much, everybody. look forward to it. >> we're told that on the way to lunch, the president and his party will stop by a bust of martin luther king jr., which stands in the capitol, and stand there for a moment of reflection as this inauguration day coincides with martin luther king day in this country. the president handing out pens, as he often does after signing bills. as they proceed to the elaborate formal luncheon in statuary hall of the capitol, let's go back outside to chip reid, who is with one family that traveled a good distance to reach washington, and watch this moment in history. chip? >> yeah, well, scott, you would think they were one family. it's actually two families. they're very good friend. the collins family who brought their three children and the roth family who brought their two children. and they felt that it was very important to
and jack lew to be secretary of the treasury. key positions in the government that the president will certainly want to see the senate act on right away. >> well thank you very much, everybody. look forward to it. >> we're told that on the way to lunch, the president and his party will stop by a bust of martin luther king jr., which stands in the capitol, and stand there for a moment of reflection as this inauguration day coincides with martin luther king day in this country. the...
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. >> so, but is jack lew the right guy, then? i mean just knowing what you know about dealing with governments, and policies -- >> i think it's interesting. there are different characteristics you look for in a treasury secretary at different points in time. so, for example, during financial crisis, it was a really good thing that the treasury secretary had experience on wall street and understood how wall street, how markets worked, how to pump lick witty. arguably now is the time where having a treasury secretary -- >> -- how government works. >> that's right. who knows how government works. who knows how to navigate government. i could make the case that's a good set of characteristics. >> we've got a lot of guys that know government now. not a lot that know the private sector. that is what we need to know now. >> that would be the case. >> god bless them. >> let them all work together. >> can i ask a banking question? we were talking during one of the breaks, i figure we should raise the conversation on the air, the banking b
. >> so, but is jack lew the right guy, then? i mean just knowing what you know about dealing with governments, and policies -- >> i think it's interesting. there are different characteristics you look for in a treasury secretary at different points in time. so, for example, during financial crisis, it was a really good thing that the treasury secretary had experience on wall street and understood how wall street, how markets worked, how to pump lick witty. arguably now is the time...
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the president now nominated jack lew to the job, he was a behind the scenes guy, director of the office of management and budget, both in this administration and that of president clinton. that nomination is expected to go smoothly, but there is one high profile and sometimes controversial cabinet member who is staying on. that is attorney general eric holder. he's come under fire from republicans and some of the democrats in congress, some of the justice department policies, particularly a plan to send guns in to mexico. but holder wants to stay and the president clearly intends to allow him to do that. of course, there will somebody other cabinet and senior staff changes soon, but many of the same close aides on whom the president has relied for the last four years are going to stay with him, that's something for which the president has been criticized by democrats who wish that he had a wider range of voices. scott? >> bill, thank you very much. it's a tall order for the president replacing hillary clinton as secretary of state who has been widely regarded a very effective secretary
the president now nominated jack lew to the job, he was a behind the scenes guy, director of the office of management and budget, both in this administration and that of president clinton. that nomination is expected to go smoothly, but there is one high profile and sometimes controversial cabinet member who is staying on. that is attorney general eric holder. he's come under fire from republicans and some of the democrats in congress, some of the justice department policies, particularly a...
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the name tossed around most commonly is jack lew. but he's not a clear candidate yet at least. secretary geithner has been very instrumental in talking to the congress for the last couple years about the budget and about the debt ceiling. he was very involved in 2011. he's obviously been very involved the last couple of months. if he leaves, i think we could -- it really depends who takes over for him. but i think we're -- i think we're looking at a lot of big issues to face before march and so it's really going to come down to who that person is that takes over. >> yeah, certainly. have to talk a little bit of football because we always talk about the commercials and the super bowl and how much money they bring in. there are reports that it might have the ad sales looking a little less hot, sexy, if you will, this year. are you hearing anything about that? and if so, what's behind it? >> about ad sales? >> yeah. well, no. about the content of them. i mean, remember all the talk about how sexy they are and, look it, i mean, they are painting on naked bodies here and you have, y
the name tossed around most commonly is jack lew. but he's not a clear candidate yet at least. secretary geithner has been very instrumental in talking to the congress for the last couple years about the budget and about the debt ceiling. he was very involved in 2011. he's obviously been very involved the last couple of months. if he leaves, i think we could -- it really depends who takes over for him. but i think we're -- i think we're looking at a lot of big issues to face before march and so...
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i think in the motorcade also spotted valerie jarrett, jack lew and some others as well. thanks, john. >>> meanwhile, what's coming up tonight on "fast?" >> we'll talk about the natural gas and how it can be converted to other things. and there will be the first nat gas to diesel plant and what that can mean in future. >> you're fired up into. a lot of news. >> i am. >> have a good day. >>> in the meantime, here's what you missed earlier on this morning. >> welcome to hour three of "squawk on the street." here's what's happening so far. >> the good news is investors are positioned for very bad stuff a few months ago and so the starting point for companies and investors has been a lot of caution. as a result, that means people get back to business and spend some money. >> i think we're well positioned in agriculture, we're coming out of a strong latin america season. year over year, our revenues were up 18% and we're setting up for the north american season in 2013. >> the margins are the key here. we'll see a high multiple stock 15 times. does still have a news dividend a
i think in the motorcade also spotted valerie jarrett, jack lew and some others as well. thanks, john. >>> meanwhile, what's coming up tonight on "fast?" >> we'll talk about the natural gas and how it can be converted to other things. and there will be the first nat gas to diesel plant and what that can mean in future. >> you're fired up into. a lot of news. >> i am. >> have a good day. >>> in the meantime, here's what you missed earlier on...
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we'll talk about his legacy and the challenges for his successor, jack lew. ♪ [ male announcer ] don't just reject convention. drown it out. introducing the all-new 2013 lexus ls f sport. an entirely new pursuit. [ male announcer ] how do you turn an entrepreneur's dream... ♪ into a scooter that talks to the cloud? ♪ or turn 30-million artifacts... ♪ into a high-tech masterpiece? ♪ whatever your business challenge, dell has the technology and services to help you solve it. barrow island has got rare kangaroos. ♪ chevron has been developing energy here for decades. we need to protect their environment. we have a strict quarantine system to protect the integrity of the environment. forty years on, it's still a class-a nature reserve. it's our job to look after them. ...it's my job to look after it. ♪ >>> good morning. welcome back to "squawk on the street." look at shares of halliburton, popping higher after releasing the fourth quarter earnings report. revenue higher than expectations as well. comments on the outlook contributing to gains today. the company saying it sees 20
we'll talk about his legacy and the challenges for his successor, jack lew. ♪ [ male announcer ] don't just reject convention. drown it out. introducing the all-new 2013 lexus ls f sport. an entirely new pursuit. [ male announcer ] how do you turn an entrepreneur's dream... ♪ into a scooter that talks to the cloud? ♪ or turn 30-million artifacts... ♪ into a high-tech masterpiece? ♪ whatever your business challenge, dell has the technology and services to help you solve it. barrow...
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whether it's jack lew or tim geithner if you remember what happened at the end of 2011, it was an issue where you're going to be watching on tv that the soldiers that protect our freedom, are they going to get their check? soldiers that came back wounded from the first gulf war, are they going to get their check? that is going to be the issue on the front page, grover, is it not? >> and august of 2011 we had all the same screaming. i did all the television shows where people said taxpayers are causing the problems. i said the president is. we won, he lost. we got the spending cuts which he's trying to fight still but he got his debt ceiling only because spending cuts were attached to it. that will happen again. of course the president threatens to destroy everything if he doesn't get his way. that's what he always does. but he lost in 2011. the american people and taxpayers will win again this time. >> i know but he won in november and that's the issue. i think the strategy needs to be more accommodative. even though as a fiscal conservative i'm with you. thanks for playing, grover. >>
whether it's jack lew or tim geithner if you remember what happened at the end of 2011, it was an issue where you're going to be watching on tv that the soldiers that protect our freedom, are they going to get their check? soldiers that came back wounded from the first gulf war, are they going to get their check? that is going to be the issue on the front page, grover, is it not? >> and august of 2011 we had all the same screaming. i did all the television shows where people said...
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jack lew, the sentiment there. 2.0. one more thing on the deficit i just want to say and maybe this is worthy of discussion here. i think this is a sign that things have improved, at these economists and guys on wall street are saying we should solve the deficit and do it now. i think if things were as bad as they were say the last couple years there might be less sense that we urgently need to fix the deficit problem. mike england from action economics said if we don't solve it now we'll get to the next cycle, as in the next downturn, with nothing in the tank to help the economy. so he's saying let's use this time right now to urgently address the deficit problem. andrew? >> steve, real quick. how does geithner get a 2.2 when he was on the job effectively ultimately saving the economy, and lew, who has never had the job gets a 2.0? >> that is the number that came in. i don't know the reasons for it. there wasn't a lot of commentary. there were -- >> what did paulson -- >> we did not grade paulson. we didn't grade pauls
jack lew, the sentiment there. 2.0. one more thing on the deficit i just want to say and maybe this is worthy of discussion here. i think this is a sign that things have improved, at these economists and guys on wall street are saying we should solve the deficit and do it now. i think if things were as bad as they were say the last couple years there might be less sense that we urgently need to fix the deficit problem. mike england from action economics said if we don't solve it now we'll get...